“At Entersekt, our vision is to build and strengthen the trust between organizations and their customers. Be it delivering transactional services or preserving patient identity in healthcare records, Entersekt focuses on securing communication between mobile devices and back-end systems in the bank or healthcare institutions,” says Sherif Samy, SVP North America, Entersekt. In doing so, the company operates as a third-party security provider and enables out-of-band, end-to-end encrypted secure channels using Public Key Encryption (PKE), which are insulated from hackers’, phishing and other man-in-the-middle cyber-attack techniques. The easy-to-deploy Entersekt security solution comes with a component that resides on the mobile device and a hardware compliant device comprising of hardware security modules at the backend system of the bank.
The company’s unique approach to enhancing the digital security of online transactions involves harnessing the power of digital certificate technology with mobile phones to secure online banking, mobile banking, online shopping, or corporate networks. Besides making the mobile transactions more secure, Entersekt’s authentication solution complies with stringent regulatory requirements and FFIEC standards along with enhancing user experience.
Entersekt focuses on securing communication between mobile devices and back-end systems
Since its inception, the firm has earned a stellar reputation within the cybersecurity landscape and has grown from 4 million to 9 million clients using their security technology in a short period. Built on open technologies for high availability, scalability, and simple integration, Entersekt’s patented security products protect millions of devices and transactions daily. Enterprises across the globe look to Entersekt to strengthen the bond of trust they share with their customers, and to build on those relationships. Samy explains an interesting instance when Entersekt assisted a large bank in enhancing their online security. After deploying the Entersekt’s security technology, the bank saw a 99.9 percent fraud deduction in the first year within their online channel. Later, the Entersekt technology was able to eliminate fraud in the banks’ channel and communication completely. The bank was also able to deliver more secure mobile device services, offering more convenience for customers leveraging the richness of the Entersekt functionality. This resulted in significant cost savings for the bank and increase in customer adoption.
Today, Entersekt plays a vital role in enabling PSD2 regulations introduced in the European banking sector. At the same time in the US, a similar concept of open banking API is becoming very prevalent where the company functions as an enabler. With a mission to secure the mobile-first world, Entersekt is investing heavily in their R&D to enable institutions to offer a holistic, secure and value rich omnichannel experience for their end customers.